BUZZ - Venture Global shares rise due to power equipment deals with GE Vernova and Baker Hughes

October 15 - ** Liquefied natural gas (LNG) producer Venture Global (VG.N) announced it will supply power to data centers to meet the booming demand for artificial intelligence, and its share price rose 3.5% in premarket trading to $13.74

** The company (link) signed agreements with GE Vernova GEV.N and Baker Hughes Energy Services BKR.O to procure up to 16 new power units each with a capacity of 720 megawatts and related equipment, including turbines and transformers

** According to the statement, these agreements will enable VG to gradually provide up to 10 gigawatts of new computing capacity for potential adjacent infrastructure and data centers at sites it owns or controls

** The company expects to place its first order for power equipment by the end of this year

** Technology and utility companies are exploring various ways (link) to increase power flexibility for energy-intensive data centers, to help ease the burden on the US grid amid a surge in AI-driven demand

** Of the 18 analysts covering VG, 11 give the stock a "strong buy" or "buy" rating, and 7 give a "hold" rating; the median target price is $16

** As of Wednesday's close, the stock is up about 95% so far this year

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